The following balances are Suzie and Jarrett's Nugget Co., as of December 31, 2015:

Cash	87,000
Accounts Receivable	40,000
Inventory	80,000	(4Nuggets)
Prepaid Rent	4,000
Equipment	200,000
Accumulated Depreciation	60,000
Security Deposit	10,000
Account Payable	70,000
Wages Payable	5,000
Interest Payable	5,000
Taxes Payable	8,000
Bond Payable	100,000
Common Stocks ($1 par)	6,000
Paid in Capital	54,000
Retained Earning	111,000

For 2016:

Received all beginning accounts receivable and paid all beginning accounts payable.

Bought four Nuggets at $25,000 each, 20% down, rest next year.

Sold five Nuggets, $60,000 each, 60% down, 40% next year.

Paid cash wages of $50,000 and at the end of the year owed employees $2,000.

Paid utilities of $12,000 and advertising of $10,000.

On June 30th, they paid the annual payment of $10,000 principal plus interest on the Note Payable. The note was taken out on June 30th of the previous year. (Can you figure out the Interest rate?)

On August 1, purchased a new wagon for delivery of the Nuggets for $20,000.

On December 1, they declared and paid a dividend of $5,000.

During the year they paid $16,000 in rent (rent is $2,000 per month)

During the year, the company sold a piece of equipment that originally cost $5,000 and had accumulated depreciation at the date of the sale of $2,000. They sold the bike for a loss of $1,000.

The company uses the FIFO inventory flow assumption.

The depreciation for the year was $50,000.

The tax rate is 30%. During the year the company paid all of last year's taxes and 50% of 2016 taxes.

PREPARE FINANCIAL STATEMENTS